Tom Hardy for Elton biopic

Director Michael Gracey has taken on the project titled 'Rocketman' and is reportedly keen for the 'Dark Knight Rises' actor to take on the lead role, according to HitFix.com.

While Hardy is being tipped to play the musician, no formal offer has been made yet and it's not known whether the actor is interested in the film.

The British star has a slew of movies due for release including George Miller's 'Mad Max: Fury Road', in which he stars alongside Charlize Theron and Nicholas Hoult, and Michael R. Roskam's 'Animal Rescue' with Noomi Rapace.

Actor-and-singer Justin Timberlake was originally considered the hot favourite to take the role after playing Elton in the video for his 2001 single, 'This Train Don't Stop There Anymore'.

Penned by 'Billy Elliot' screenwriter Lee Hall, the feature is being made by Elton's film company Rocket Pictures, who were behind 2011's high-grossing children's film 'Gnomeo & Juliet'.

'Rocketman' is thought to differ from traditional biopics, with the producers looking to weave the legendary 'Candle in the Wind' singer's life story together with his music in a musical fantasy film.

The biopic will follow the singer's life from five-year-old musical prodigy to his glittering music career selling more than 250 million records over four decades.